A federal judge in Arizona has temporarily barred state officials from enforcing gambling laws against Kalshi, siding with the CFTC. A federal judge in Arizona has temporarily barred state officials from enforcing gambling laws against Kalshi, siding with US regulators in a growing dispute over how event-based trading products should be classified. In an order issued on Friday, Judge Michael Liburdi of the US District Court for the District of Arizona granted a request from the Commodity Futures Trading Commission (CFTC) and the federal government to halt any state-level action targeting contracts listed on CFTC-regulated markets . The ruling centers on whether Kalshi’s “event contracts” fall under federal derivatives law or state gambling statutes. Last month, Arizona authorities sought to pursue enforcement against Kalshi under local gambling rules, but the CFTC asked a court order on Wednesday to stop the action. Read more
Bitwise added the ticker $BHYP and a 0.67% management fee in its latest filing, signaling a potential launch soon, according to Bloomberg's senior ETF analyst. Bitwise Asset Management has reportedly taken a key step toward launching its proposed spot Hyperliquid exchange-traded fund, filing a second amendment with the US Securities and Exchange Commission. In an X post on Friday, Bloomberg senior ETF analyst Eric Balchunas highlighted that Bitwise had updated its Hyperliquid ETF to include the ticker $BHYP and had also set a management fee of 0.67% (67 basis points). According to Balchunas, the filing of these details generally indicates that the product will "launch soon." Read more
Technical and onchain indicators hint at a possible trend reversal in XRP price as traders watch to see if a key support level holds. XRP (XRP) has been in an eight-month downtrend, with momentum and onchain indicators at levels that previously coincided with macro bottoms. Data from TradingView reveals that the relative strength index (RSI) of the XRP/BTC ratio is at 24, the most oversold level since October 2025. Such low levels in the daily RSI have marked market bottoms for the ratio, ultimately leading to 65% to 345% XRP price breakouts against Bitcoin as seen late 2024 and 2025. Read more